Riot Platforms, one of the world’s largest Bitcoin mining companies, has spent $162.9 million on 33,280 “next-generation” Bitcoin miners for its Texas facility ahead of the 2024 Bitcoin halving.
The mining rigs, sourced from manufacturer MicroBT, will increase the company’s self-mining capacity by 7.6 exahashes per second (EH/s) and arrive “in advance” of Bitcoin’s next halving cycle, which is scheduled for mid-2024.
According to CEO Jason Les, after the machines are deployed in the first quarter of 2024, Riot Platforms’ self-mining capacity will increase to 20.1 EH/s.
Les incorporated the rigs we designed and constructed expressly for “immersion cooling systems,” such as those utilized at the Corsicana facility.
“These new miners will contribute an additional 7.6 EH/s to Riot’s self-mining capacity when fully deployed and will further enhance our already strong fleet efficiency in advance of the upcoming Bitcoin halving.”
8,320 M56S+ machines have a hash rate of 220 terahashes per second (TH/s), while the remaining 24,960 M56S++ machines have a slightly higher hash rate of 230 TH/s.
However, the machinery won’t arrive until December, and the miners won’t be fully deployed until mid-2024.
Riot stated it may also acquire 66,560 M56S++ models before December 31, 2024, increasing its self-mining capacity by 15.3 EH/s. This option may be exercised in whole or in part by the company.
Despite the news, Google Finance reports that Riot’s share price declined 7.2% to $10.77 on June 26.
Akron Energy, a Bitcoin miner, announced on June 21 that it had acquired a 200-megawatt (MW) mining facility in Hannibal, Ohio, for an undisclosed sum.
It is the first expansion of the Sydney-based company into the United States following a $26 million capital raise on June 20.
The company intends to promptly complete the initial design phase of the Hannibal facility, which it anticipates will generate 100 MW of electricity.
Hosting services will be supplied to the company’s institutional Bitcoin industry clients.
